TGT TARGET CORP
Price Chart
Executive Summary
Target reported Q1 2026 GAAP/Adjusted EPS of $1.71, beating consensus of $1.46 by 17%, on revenue of $25.44B (vs $24.66B consensus, +6.7% YoY). The company raised its full-year net sales growth guidance to ~4% (from ~2%) and guided EPS to the high end of the $7.50-$8.50 range, signaling accelerating momentum after a challenging 2025.
Key Financial Metrics
Actionable Insight
The Q1 beat and raised guidance represent a clear inflection point after a year of declining sales and earnings. With broad-based category strength, accelerating digital growth, and margin expansion, Target is regaining share. The raised FY guidance to ~4% net sales growth (from ~2%) and EPS at the high end of $7.50-$8.50 provides a concrete catalyst. Monitor Q2 for sustained comparable sales growth above 3% and further margin expansion to confirm the trend.
Key Facts
- Q1 2026 GAAP/Adjusted EPS $1.71 vs consensus $1.46 (+17.1% beat)
- Q1 2026 net sales $25.44B vs consensus $24.66B (+3.2% beat, +6.7% YoY)
- Comparable sales grew 5.6% (traffic +4.4%, avg ticket +1.1%) vs -3.8% a year ago
- Full-year net sales growth guidance raised to ~4% from ~2%
- Full-year GAAP/Adjusted EPS guided to high end of $7.50-$8.50 range
- Gross margin expanded 80bps YoY to 29.0% (28.2% in Q1 2025)
- Digital comparable sales grew 8.9%; same-day delivery via Target Circle 360 grew >27%
- Non-merchandise sales grew ~25% (Roundel ad revenue, Target Circle 360 memberships, marketplace)
- All six core merchandise categories posted YoY sales growth
- Operating cash flow $716M vs $275M a year ago (+160%)
Financial Impact
EPS beat of $0.25 (+17%) on $0.78B revenue beat (+3.2%) with raised guidance — strong positive catalyst for a $57.8B market cap retailer
Risk Factors
- Uncertain consumer spending environment and potential tariff impacts on product costs
- Higher SG&A expense rate (21.9% vs 21.7% adjusted last year) from compensation and marketing investments
- ROIC declining to 12.4% from 15.1% a year ago, though partly due to business transformation costs
- No share repurchases in Q1 despite $8.3B authorization — capital return below expectations
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000027419-26-000020 |
| Document: tgt-20260520.htm | 0000027419-26-000020 |
| Document: 0000027419-26-000020-index-headers.html | 0000027419-26-000020 |
| Document: 0000027419-26-000020-index.html | 0000027419-26-000020 |
| Document: 0000027419-26-000020.txt | 0000027419-26-000020 |
| 8-K Data (Synthetic) | 0000027419-26-000020 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 20, 2026
3d ago
|
ANALYST-DOWNGRADE
| $119.58 awaiting T+20 | awaiting T+20 | — | $125.60 (+5.04%) |
|
May 20, 2026
3d ago
|
8-K
| — | awaiting T+20 | — | — |
|
May 1, 2026
22d ago
|
ANALYST-UPGRADE
| $120.06 $120.38 | ▲ +0.27% | ▲ +4.68% | $125.60 (+4.62%) |
|
Feb 28, 2026
12w ago
|
Institutional Cluster
| $113.10 $118.69 | ▲ +4.94% | ▲ +12.88% | $125.60 (+11.06%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access